Auckland news

Keep up to date with the latest news from the Moore Stephens Markhams Auckland team with our latest press releases and important notices, as well as upcoming events, happenings, and other noteworthy snippets.

The New Zealand Accounting Standards Board (NZASB) has published for public comment, proposals to amend the Tier 3 and Tier 4 PBE simple format reporting standards.
We have summarised the proposed changes here for you:
Tier 3 proposed changes

Related party transactions are now defined as “a transfer of money or other resource between the reporting entity and a person or other entity that is closely associated with the reporting entity that has the ability to influence the reporting entity.Read more »

The Minister for the Community and Voluntary Sector announced a review of the Charities Act 2005 on 24 May 2018. The purpose of the review is to ensure that the Act is effective and fit for purpose by reviewing issues arising under the Act and building on its current strengths.Read more »

Directors Dan Druzianic from Hawke’s Bay and Paul Rickerby, Christchurch recently attended a week-long Harvard Business School leadership programme developed for international Moore Stephens directors, that built on a first programme they attended two years ago.
They returned brimming with new learnings about the challenges ahead for business and we share some of these here.Read more »

We’re delighted to announce that Jonathan Roberts has been made an Associate of our Auckland firm.
Jonathan provides business advisory and taxation services to clients involved in a large range of industries including retail, investment, farming, and legal services.Read more »

The budget to “help rebuild New Zealand’s reputation”
Touted as predictable, it did not disappoint – nor is the Government making any apologies for this. Most of the big ticket items were, of course, announced prior to Christmas in the 100 day Budget – including the whopping $5.5 billion families package,Read more »

Recent changes to the code of ethics now provides guidance to assurance providers and accountants in what to do when there is non-compliance with laws and regulations (NOCLAR).
Essentially, it allows accountants to set aside their duty of confidentiality in the Code of Ethics when they come across non-compliance of laws and regulations – and alert the appropriate authorities where fraud,Read more »

Education update
The Education (Update) Amendment Act 2017 (the Act) came into effect on 19 May 2017.
One of the changes in the new act is the clarifying of the board of trustees’ roles and responsibilities. There are three changes to the Act,Read more »

Real Estate Update
The REAA will soon change its name to the REA (Real Estate Authority). A new website and branding is currently in progress.
From 1 October 2018, The Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act will apply to real estate agents who
Represent a client who’s selling or buying real estate
Accept a deposit in cash of $10,000 or more from someone who’s buying real estate.Read more »

At the beginning of November 2017, the NZASB approved the new financial reporting standard, PBE FRS 48 “Service Performance Reporting”.
It applies to those Tier 1 and 2 Public Benefit Entities (PBEs – for example, not-for-profits and charities) with financial reporting periods beginning on or after 1 January 2021.Read more »

Atul Mehta from Moore Stephens Markhams Chartered Accountants discusses how new legislation enacted in February substantially simplifies obligations under the provisional tax regime. Download full article in Contact magazine July 2017 here.
Most taxpayers pay their provisional tax three times throughout the course of their financial year.Read more »

The face of Auckland’s legal scene appears to be changing, with suburban and city fringe firms becoming more profitable than those in the city’s CBD traditionally thought to be the powerhouses.
This is one of the key findings of the latest financial performance survey released by accountancy firm,Read more »

Moore Stephens Markhams tax specialist and business advisor, Kiran Bhikha shares his thoughts on the impact for business from this year’s Budget, see below.
With the announcement of Steven Joyce’s first budget, in an election year no less, we see a well-balanced budget,Read more »

For organisations with balance dates on or after 15 December 2016, you will notice a change in the format of your audit report. This is due to a change in the international auditing standards governing audit reports.
According to the IAASB,Read more »

MEDIA RELEASE
2 December 2015
Pharmacy report 2015 shows rise in wages and drop in gross profit margins
It has been a challenging time for many pharmacies over the last few years and the latest Moore Stephens Markhams pharmacy survey shows that it’s not over yet.Read more »

New Zealand accounting software company Xero has recently made Moore Stephens Markhams a Platinum Partner.
Xero recognises and contributes to the high level of expertise that the New Zealand group has in this software, with over 1000 clients being users.Read more »